It looks like more people are coming to the understanding there are options for dealing with private student loans. Here is a recent post from an accounting manager about the role accountants can play in working with private student loan lenders on behalf of their clients.
And while so many keep saying there is nothing to be done with private student loans in bankruptcy, this accountant got the facts straight. “But in the absolute worst case scenario, you may have to advise your clients to declare bankruptcy. Your clients will likely tell you the oft-repeated statement that private student loan bankruptcy is not possible, but that is not really true. In fact, declaring bankruptcy is easier compared to a few years ago, though your clients will have to prove that they are in a hardship situation and outright cannot make the loan payments.”
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